Swiss bank to launch bitcoin futures to allow betting against cryptocurrency

Swiss bank to launch bitcoin futures to allow betting against cryptocurrency
ZURICH: Swiss bank Vontobel said it will start trading Switzerland’s first two mini futures to short bitcoin on Friday, giving investors a tool to bet against the value of the volatile cryptocurrency or to hedge bitcoin positions. The launch of the two mini futures on the Swiss stock exchange by the country’s second-biggest provider of structured products comes after CME... Read More

Pakistan’s FDI stood at $939.7m in Q1

Pakistan’s FDI stood at $939.7m in Q1
ISLAMABAD: Foreign Direct Investment (FDI) in the country recorded an increase of 74.4 percent during first quarter of the ongoing fiscal year (July-October 2017-18) compared to last year, the central bank said. During July-October 2018 period, the net FDI inflow into the country was $939.7 million against $538.7 million during corresponding period July-Oct 2017, says a press release. This increase... Read More

SBP directs banks to install bio-metric system till Dec 31

SBP directs banks to install bio-metric system till Dec 31
KARACHI: The State Bank of Pakistan (SBP) has directed all micro finance banks to install bio-metric system in their branches till 31st December this year for scrutiny and verification of customers. In a statement in Karachi today SBP said it will also help to check money laundering and terror financing. SBP also directed to install Treasury Management System before June... Read More

IMF says Pakistan outlook ‘favourable’, warns of risks

IMF says Pakistan outlook ‘favourable’, warns of risks
ISLAMABAD: The International Monetary Fund (IMF) said the outlook for Pakistan’s economy was “favourable”, citing Chinese infrastructure investments among reasons for growth, but warned of risks to recent progress. Confidence in insurgency-hit Pakistan is growing, with the IMF saying last year that the country had emerged from crisis and stabilised its economy after completing a bailout programme. However the IMF... Read More

WB approves $223 million loan to alleviate poverty in Karachi

WB approves $223 million loan to alleviate poverty in Karachi
ISLAMABAD: World Bank has approved the loan of $223 billion for Pakistan through two separate agreements for the eradication of poverty, improvement of life standards and women access to banking facilities in Karachi. Under the agreement, the most of the loan amount will be spent in Karachi to alleviate poverty and improvement life standards. As per the agreement  $137 million... Read More

Dar reaffirms govt’s resolve to strengthen anti-money laundering measures

Dar reaffirms govt’s resolve to strengthen anti-money laundering measures
ISLAMABAD: Finance Minister Ishaq Dar has emphasized the government’s resolve to further strengthen anti-money laundering and combating the financing of terrorism frameworks for peace and security of the country. He was chairing a meeting in Islamabad today to review progress on the implementation of measures against money laundering and terrorism financing. Ishaq Dar urged all stakeholders to ensure effective coordination... Read More

Pakistan trade deficit hits record $30 billion

Pakistan trade deficit hits record $30 billion
KARACHI: Pakistan’s trade deficit has ballooned to $30 billion, for the first time in the history of the country, as the exports declined and imports increased. The trade deficit, gap between exports and imports, increased by 42.12 percent and reached $30 billion during July-May period of FY2016-17 from $21.11 billion of the corresponding period of the last year. It was... Read More

Pound struggles to rebound in after shock British vote

Pound struggles to rebound in after shock British vote
Pakistan Today Pound Rate HONG KONG: The pound struggled on Monday to recover from last week’s sharp losses that came in the wake of a shock British election result that has thrown the country into uncertainty. Sterling took a beating on Friday after Prime Minister Theresa May’s ruling Conservative Party lost their Westminster majority, days before it holds crunch talks with... Read More

Get fresh currency notes through SMS

Get fresh currency notes through SMS
Pakistan Fresh Currency Notes SMS News KARACHI: State Bank of Pakistan, through its subsidiary SBP Banking Services Corporation (SBP-BSC) has re-launched the SMS service for issuance of fresh currency notes to the general public. The fresh notes will be available from designated commercial bank branches called “e-branches” and the sixteen field offices of SBP BSC. The issuance of fresh currency... Read More

SECP launches new system for queries, complaints

SECP launches new system for queries, complaints
ISLAMABAD: Chairman Securities and Exchange Commission of Pakistan (SECP) Zafar Ul Haq Hijazi has launched the SECP’s new Service Desk Management System (SDMS). The new system offers ease of use to the public for filing queries and complaints.  It ensures prompt action and regular updates on handling of complaints. The SECP has already made available its new toll free facility 0800-880-08... Read More
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